Economic Growth in Mongolia

Mongolia’s Rapid Economic Growth is happening today, and is affecting people all over the globe, but most importantly, it is positively affecting the Mongolian population.

The two sources that I have chosen to write about discuss and show proof of the Mongolian economic growth, now and then. The media that I have chosen for this topic is from word press, and it goes into deep detail about how the economy of Mongolia is growing. The article talks about how the Mongolian economic growth is positively and negatively affecting its people. My other source is an image of an Enameled and Gilded Bottle that shows a war between two different groups of people. I chose this image because it correlates with what type of economy Mongolia was back during the 13th century. Just the existence of this bottle shows that the Mongolian people had the ability to create with art, sculpt a bottle, and sell it in a market. In my opinion, the bottle shows the possibility of a growing market and economy during the 13th century.

The two sources raise the issue of whether or not a growing economy has only benefits for the Mongolian people. The reason as to why the economy is growing so rapidly in Mongolia is because the country is made up of many different minerals and materials that are rapidly selling right now- coal, copper, gold, and uranium. Although they have a great, rapidly growing economy, their decision ultimately come down to whether or not they want to extract their environmental materials. Doing so would create a lot of opportunity for work, trade, and development, but in the end might negatively affect the environment, or worse, their people.

I think that this issue is very interesting because its affect on us as an individual state would be minimal, but if they fell through and decided not to extract the materials, the country as a whole would be affected. Without materials like coal, copper, gold and uranium, we wouldn’t be able to do the things with them that we normally use them for. If the Mongolians decided not to extract the materials, it would cause prices in coal, copper, gold and uranium to sky rocket. This would happen because the United States often purchases those types of materials from outside of the country because we have already extracted all of the material that we needed, or we just don’t have it.

The economic growth of Mongolia would not be a bad thing for its people, but it could negatively affect different economies from around the world.




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